Total Secures Maritime & Port Authority of Singapore (MPA) License To Supply LNG In Port Of Singapore
Blog Article - February 26, 2021
With Total having successfully secured the license by the Maritime & Port Authority of Singapore (MPA) to supply liquefied natural gas (LNG) as a marine fuel in the Port of Singapore (read press release here), Jérôme Leprince-Ringuet (Vice-President, Marine Fuels, Total) looks at how this announcement further reinforces Total as a leader in the growing worldwide LNG market and the Group’s wider climate ambitions.
We are honoured to have been awarded the license by MPA to supply LNG as a marine fuel in Singapore. This achievement is a reflection of the hard work put in by the team here to secure it and underscores Total’s goal to be a leading LNG bunker supplier globally.
As the world’s largest conventional bunkering hub, Singapore is well positioned to become a major LNG bunkering hub and we are committed to contribute to the growth of this important market. Importantly, the securing of this license will enable us to deliver competitive, reliable, end-to-end bunkering solutions for Singapore.
We are already deeply engaged and at the forefront of LNG bunkering with pioneering investments in world-class LNG bunker vessels, such as the Gas Agility in Rotterdam, which we launched last year, and will be joined by 2 more assets due to be launched in Singapore and Marseille later this year.
Demand for LNG has increased significantly over the past 12 months and that pace of growth is set to grow exponentially in line with the level of new LNG-powered vessels on the order books. Clearly the shipping market has confidence in LNG – in its infrastructure, practicality, availability and flexibility.
The case for LNG as a marine fuel is strong. LNG is the best, immediately available solution to reduce our shipping customers’ carbon footprint and paves the way towards carbon-neutral bioLNG. Moving forward, we will continue to ramp up our investments to reflect this global demand and anticipate that global LNG bunkering demand may rise to 10Mt per annum by 2025 and represent more than 10% of the bunkering market in 2030.
We are committed to helping our customers and the shipping industry at large play its part in reducing its carbon footprint, embodying Total’s wider climate ambition to get to net zero by 2050.
The securing of this license from MPA is an important step forward in this journey.